- Total VAT receipts in 2019-20 decreased by 1.5% from the previous financial year. There was a downward impact on receipts from the VAT deferral measure which took effect from 20 March 2020.
- The Wholesale and Retail sector continued to be the largest contributor to net Home VAT liabilities.
- 62% of total net Home VAT declared was paid by traders with an annual turnover greater than £10 million.
Source HMRC
